Friday Dec 09, 2022

Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Rating of “Hold” from Analysts – MarketBeat

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Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned a consensus rating of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $45.57.

Several research analysts have recently commented on CSIQ shares. Citigroup dropped their price target on shares of Canadian Solar from $53.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, December 21st. Wells Fargo & Company started coverage on shares of Canadian Solar in a research note on Monday, November 22nd. They set an “equal weight” rating and a $44.00 price target on the stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in shares of Canadian Solar during the 2nd quarter worth $29,000. Koshinski Asset Management Inc. bought a new stake in Canadian Solar in the 3rd quarter valued at $56,000. Edmond DE Rothschild Holding S.A. boosted its holdings in Canadian Solar by 706.0% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,015 shares of the solar energy provider’s stock valued at $90,000 after purchasing an additional 1,765 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Canadian Solar in the 2nd quarter valued at $93,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Canadian Solar by 36.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,454 shares of the solar energy provider’s stock valued at $85,000 after purchasing an additional 658 shares during the period. 53.19% of the stock is owned by institutional investors and hedge funds.

Shares of CSIQ opened at $29.78 on Friday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.19 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $35.03 and a 200-day simple moving average of $36.95. Canadian Solar has a 1-year low of $28.11 and a 1-year high of $67.39.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, November 18th. The solar energy provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.24. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.34 billion. Canadian Solar had a net margin of 1.59% and a return on equity of 3.55%. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. On average, equities analysts expect that Canadian Solar will post 1.27 earnings per share for the current fiscal year.

Canadian Solar Company Profile

Canadian Solar, Inc engages in the manufacture of solar photovoltaic modules and provides solar energy solutions. It operates through the Module and System Solutions (MSS) and Energy segments. The MSS segment involves in the design, development, manufacture, and sales of solar power products and solar system kits, and operation and maintenance services.

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Source: https://www.marketbeat.com/instant-alerts/nasdaq-csiq-consensus-analyst-rating-2022-01/

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